Google is going after cable with its own streaming service, YouTube TV

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The company announced on Tuesday it was introducing a live and on demand TV service called "YouTubeTV".

Move over Sling TV, DirecTV Now, PlayStation Vue, and pretty much every other online TV streaming service: YouTube, the first king of Internet video, is getting into the TV subscription business. According to YouTube, the new service will cost $35.00 a month, and initially will only launch in a small number of markets.

YouTube has announced a new feature through which it will take on cable. GOOGL, -0.56% GOOG, -0.73%, will feature 40 channels spanning the four major networks - ABC, CBS, NBC and Fox - and additional cable channels, such as Disney, E!, Bravo, FX, USA and ESPN. The service also includes all YouTube Red Originals, and works on Android, iOS, and Chromecasts/Chromecast-compatible TVs.

"It's no question millennials love great TV content but what we've seen is they don't want to watch it in traditional setting", YouTube CEO Susan Wojcicki said at a packed YouTube press event. ShowTime and Fox Soccer Plus are available as add-ons. That figure is about to grow exponentially thanks to the launch of YouTube TV. "To do this, we've worked closely with our network and affiliate partners to evolve TV for the way we watch today". Perhaps most enticing is the service's unlimited cloud DVR, which lets you record as much as you want, but shows are deleted nine months after they are recorded.

The service, which will be available through a standalone app and comes with six accounts per membership, offers a package of both broadcast network and cable channels.

YouTube TV is rolling out on a market-by-market basis; you can sign up to be notified when it becomes available here.

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